Full text of G.20 Finance Companies : December 2, 1971

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December 2, 1971

G. 20
FINANCE COMPANIES
OCTOBER 1971

Consumer instalment credit outstanding at finance companies increased
$198 million during October to $31.3 billion. This reflected increases in all major
types of consumer credit.
Credit extended to consumers b y finance companies in October' amounted to
nearly $2.7 billion. Personal loan extensions declined $39 million for the, month but
this drop was. more than offset by sizable increases -in passenger car paper and other
consumer goods credit.

-

Total business credit outstanding and total ext- m s i o n s of business credit
at finance companies increased $129 million and $182 million respectively in October.
Wholesale automotive outstandings and extensions both declin d for the month but were
offset by increases in outstandings and extensions for the t' ro remaining categories of
business credit. companies rose 37,000

The number of motor vehicles financed by finane
units during October. All of the categories showed increase
Outstanding Credit Held by. Finance C
(In millions of dollars)

Type of credit

Consumer

October 31,
' 1971

(passenger cars)

Other consumer goods
Home repair and modernization
Personal loans

Retail automotive

-154

10,177
6,306
105
14,743

38

(commercial
vehicles)

Wholesale automotive
Other business credit

3,092
4,971
12,446

26

-288
11
587

Not available at
present due to
revisions in
reporting

20,509

Business credit 1/

22

198

instalment credit

Retail automotive

rease or decrease, during:
Year ending
Oct.
Oct. 31, 1971
1970

Oct
1971

18'+

1/Excludes some credit extended to business, such as that ex tended by factoring
subsidiaries
* Less than 0.5 million dollars.




1

-2-

Credit Extended by Finance Companies
(In millions of dollars)

' Type of credit

'

Consumer instalment credit
•Retail automotive
" .

New
Used

(passenger cars)

i
.

Oct. 31,
1971

Change from:
Month ago

2,655

106

804

101

620

94
7

184

506

' Other, consumer goods
x
Home rap air. and modernization
Personal loans

.5

1,340

43
1
- 39

Business credit 1/

6,289"

182

182

29

Wholesale" automotive paper

2,995

-188

Other business credit

3,112

341

Retail automotive (commercial vehicles)

1

Year ago

|

268

194
N.A.
N.A.
2
. 3

69

Not available
at present
revisions
in reporting

_1/Excludes some credit extended to business, such as that extended by factoring
• subsidiaries.
N .A —]%ot ava i lab 1 e .

Number of Motor Vehicles Financed by Finance Companies
(In thousands)

•

October 1971

Type of vehicle

314

Total financed at retail
New passenger
Used passenger
New and used commercial




- .

168
97
49

.